Market Overview

Gates Introduces Most Comprehensive Range of Modular Hoses in the Aftermarket Industry

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DENVER, May 21, 2019 /PRNewswire/ -- Gates (NYSE:GTES), a leading global provider of application-specific fluid power and power transmission solutions, now offers its customers one of the most comprehensive range of modular hoses in the aftermarket industry. Over the past six months, Gates has introduced more than 200 new hoses to its product line. These new hoses expand Gates' catalog coverage which helps automotive replacement channel partners meet market demands as cooling systems shift towards modular hose assemblies.

Gates Industrial Corporation

"As technology advances to more complex designs, Gates' modular hoses are the ideal solution to support modern internal combustion engine, hybrid and electric vehicle applications because of the diversity of products and options for customization," said Dave Miller, vice president of aftermarket global product line management of Gates. "Gates is leading the market with our modular hose technology, and our extensive product coverage means we are ready and able to serve the upcoming replacement cycle for these products."

As propulsion technologies become more and more complex with hybridization, electrification and the increasing use of turbochargers, cooling systems have become more complex as well. Modular hoses address this complexity by routing cooling fluid around the vehicle to the various systems that require cooling. Moreover, quick connecting modular systems reduce time and labor in the assembly process allowing for more efficient production and simplified replacement in the aftermarket. Electronic sensors have also been added to Gates' modular hoses allowing data to be collected and stored in the car's computer to improve vehicle performance and reliability.  

"In addition to our continued investment in materials science and process engineering, our recent acquisition of Rapro in Turkey confirms our commitment for future growth in this product line and has given us the opportunity to grow our new product capabilities," Miller said. "We have already launched over 1,200 variations for the European market, and we are staffing up to accelerate new product introductions to address upcoming shifts in the vehicle mix such as electric vehicle applications."

Gates' modular hoses meet rigorous OEM performance specifications and are duplicates of the OEM parts, including clamping, shielding and connecting necessary components to give an exact fit replacement for the customers and partners. Gates modular hoses are currently available in the United States and Europe, with plans to launch in China next month and South America and India later this year. 

About Gates
Gates is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. Gates offers a broad portfolio of products to diverse replacement channel customers and to original equipment ("first-fit") manufacturers as specified components. Gates participates in many sectors of the industrial and consumer markets. Gates products play essential roles in a diverse range of applications across a wide variety of end markets ranging from harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners, and virtually every form of transportation. Gates products are sold in 128 countries across four commercial regions: the Americas; Europe, Middle East and Africa; Greater China; and East Asia and India. More about Gates can be found at www.gates.com.

Forward-Looking Statements
This press release contains forward-looking statements. All forward-looking statements involve risks and uncertainties which could affect our actual results and could cause its actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Important factors could affect our results and could cause results to differ materially from those expressed in our forward-looking statements, including but not limited to the factors discussed in the section entitled "Risk Factors" in Gates' Annual Report on Form 10-K for the fiscal year ended December 29, 2018, as filed with the Securities and Exchange Commission.

 

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SOURCE Gates Corporation

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